The Present Value of an Annuity That Pays $1 Million

question 43

Multiple Choice

The present value of an annuity that pays $1 million per year for n years,is $9 million.If the interest rate is 5% per annum,n is approximately equal to how many years?

• A)45 years
• B)8 years
• C)11 years
• D)16.5 years
• E)12.25 years

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Definitions:

Discrimination

Unfair treatment of individuals based on their race, age, gender, or other attributes, rather than on individual merit.

Different Religion

The belief in and worship of a superhuman controlling power, especially a personal God or gods, which varies between cultures and individuals.

Official Languages

Languages that are given a special legal status in particular countries, states, or other territories, typically used in governmental operations.

Multitasking

The ability to perform multiple tasks simultaneously, often requiring divided attention and cognitive flexibility.